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Smoke rises from fires on the Deepwater Horizon offshore oil rig in the Gulf of Mexico in April 2010. (Credit: AP)

Anadarko Must Pay $159M For 2010 Deepwater Spill

A Louisiana federal judge ordered Anadarko Petroleum Corp. to pay $159.5 million for Clean Water Act violations stemming from the massive 2010 Deepwater Horizon oil spill, saying the penalty was relatively small because the company was a minority owner of the well and didn't cause the spill.

  • RBC Can't Shake $76M Liability Over Botched Rural/Metro Sale

    The Delaware Supreme Court affirmed a trial court's decision Monday that RBC Capital Markets is liable to Rural/Metro Corp. shareholders for nearly $76 million, finding the bank pushed the ambulance company’s directors into a hasty and lowballed sale to Warburg Pincus LLC.

  • Sheldon Silver Convicted In Corruption Trial

    A New York jury on Monday convicted former New York Assembly Speaker Sheldon Silver on corruption charges for what prosecutors say was a scheme to gain nearly $5 million in referral fees from a cancer doctor and real estate developers in exchange for legislative action and state funding.

  • Standard Bank Inks UK's First Deferred Prosecution Accord

    U.K. authorities on Monday won court approval of their first-ever deferred prosecution agreement, which will see a former subsidiary of South Africa’s Standard Bank Group Ltd. pay $32.2 million in sanctions over a payment two former employees allegedly made to bribe members of the Tanzanian government.

  • Giant LA Development Blocked Over Environmental Concerns

    The California Supreme Court sidelined a massive mixed-use residential project along portions of a river north of Los Angeles, ruling Monday that the state improperly found greenhouse gas emissions would have no significant impact and that a plan to move endangered fish was flawed.

  • China Probes 3 Brokerages In Margin Finance Crackdown

    Chinese securities regulators have commenced investigations into three top brokerages, Citic Securities Co., Haitong Securities Co. and Guosen Securities Co., over suspected violations of rules on margin financing and short-selling, according to filings made by the firms on Sunday.

  • Federal Reserve Rule Limits Emergency Lending Powers

    The Federal Reserve on Monday put in place a Dodd-Frank Act-mandated rule that would restrict its ability to lend to banks in a crisis, including a requirement that any false statements made by an individual or firm to get such loans be referred to law enforcement agencies.